Bristol-Myers Squibb has signed an agreement to acquire Medarex, Inc. for $2.1 billion in cash (net of Medarex’s $300 million in cash holdings). The transaction has been approved by the boards of directors of both companies, and Medarex has agreed not to solicit any other acquisition partners. BMS will finance the deal with its existing cash. BMS will gain Medarex’s UltiMAb Human Antibody Development System and next-gen Antibody-Drug Conjugate (ADC) technology for use in immunology and oncolo...